Solvency Certificate

Summary

Solvency Certificate: A certificate delivered on the closing date by an officer of the Borrower, certifying that the Borrower and its subsidiaries is and will be solvent after the completion of the transactions contemplated by the Credit Agreement. Each Credit Agreement defines "solvent" differently and this definition is often highly negotiated between Lender and Borrowers, including whether solvency is measured by the Borrower and each subsidiary on a stand-alone basis or the Borrower and its subsidiaries on a consolidated basis.